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Textile cluster imports machinery at dirt cheap prices
22 Oct '09
1 min read
The Bhilwara textile cluster, which is famous for yarns,shirtings and suitings from polyester and its blends, has invested in machineries, which they have been able to import from overseas countries at dirt cheap prices, due to the global recessionary trends.
The textile cluster which has about 400 mid and big size textile units has a share of about 50 percent of the polyester fabrics market in India and is also home to a few well known fabrics brands in India.
The industries have purchased around 14,500-15,000 units of different textile machinery from units in overseas countries, who had closed down their units, unable to withstand the undercurrents of the global recessionary trends.
These machineries have been bought at just 15 percent of their actual cost, on the assumption that, once the recessionary trends blow over, the sector will grow at around 25 percent per annum.
The textile cluster which has about 400 mid and big size textile units has a share of about 50 percent of the polyester fabrics market in India and is also home to a few well known fabrics brands in India.
The industries have purchased around 14,500-15,000 units of different textile machinery from units in overseas countries, who had closed down their units, unable to withstand the undercurrents of the global recessionary trends.
These machineries have been bought at just 15 percent of their actual cost, on the assumption that, once the recessionary trends blow over, the sector will grow at around 25 percent per annum.
Fibre2fashion - News Desk, India
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